For 75 San Joaquin County Families, Affordable Housing May be Within Reach thanks to Health Net

Rhea-AI Summary

Centene (CNC) company Health Net announced a $3 million investment in the San Joaquin Regional Housing Fund to support affordable housing.

The funding will provide grants and low-interest loans, with Health Net targeting the creation of at least 75 affordable homes for Stockton families. Eligible projects will receive support from planning through construction through January 2029. The investment focuses on families facing barriers to affordable housing, including households earning between 30% and 50% of area median income. Health Net has invested a combined $11 million in affordable housing and related initiatives in Sacramento and San Joaquin counties.

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• Minor point. Forward-looking: it has not happened yet and may not happen.Health Net's $3 million investment targets at least 75 affordable homes, supporting eligible projects through January 2029.

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The company's $3 million investment will help create 75 affordable homes for income-qualified Stockton families.

STOCKTON, Calif., Nov. 12, 2026 /PRNewswire/ -- Health Net, one of California's most experienced Medi-Cal managed care health plans and company of Centene Corporation (NYSE: CNC), today announced a $3 million investment in the San Joaquin Regional Housing Fund. The funding will provide grants and low-interest loans to accelerate affordable housing developments and support the creation of at least 75 affordable homes for Stockton families facing some of the region's most significant housing challenges.

"A home is so much more than a roof overhead. It's the place where families feel safe, children can grow and learn, and people can focus on their health and well-being," said Dorothy M. Seleski, Medi-Cal Plan President at Health Net. "Too many families in our communities are struggling to find housing they can afford. By partnering with the San Joaquin Regional Housing Fund, we're helping create more opportunities for families to put down roots, build stability and look toward the future with greater confidence. Together, we're investing in healthier communities by helping more people find a place to call home."

The investment will support community-driven housing developments, with a focus on serving families facing the greatest barriers to affordable housing, including households earning between 30% and 50% of the area median income.

"When local organizations unite around a shared goal, communities move forward," said San Joaquin Regional Housing Fund Board Chair Gary Singh. "Health Net's investment will help transform plans into homes for local families while encouraging broader community participation in addressing the region's housing needs."

The investment will support eligible projects through January 2029, from planning through construction.

"Investments in affordable housing are investments in the health, strength and future of our communities," said San Joaquin County Supervisor Robert Rickman. "By bringing public, private and community partners together, we can help more San Joaquin County families find stable housing and create lasting opportunity across the region."

In Sacramento and San Joaquin counties, Health Net has invested a combined $11 million in affordable housing and related initiatives, including $2 million to Stanislaus Equity Partners, Inc. (STEP) and $3 million to Fairview Terrace. By supporting developments at every stage, from planning and financing to construction and occupancy, Health Net is helping expand access to affordable housing, strengthen local communities and create the conditions for better health across the region.

About Health Net

Founded in California more than 45 years ago, Health Net, LLC ("Health Net"), a company of Centene Corporation, believes that every person deserves a safety net for their health, regardless of age, income, employment status or current state of health. Today, we provide health plans for individuals, families, businesses of every size and people who qualify for Medi-Cal or Medicare. With more than 117,000 of our network providers, Health Net serves more than three million members across the state. We also offer access to substance abuse programs, behavioral health services and managed healthcare products related to prescription drugs. We make these health plans and services available through Health Net and its subsidiaries: Health Net of California, Inc., Health Net Life Insurance Company and Health Net Community Solutions, Inc. These entities are wholly owned subsidiaries of Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to transforming the health of the communities we serve, one person at a time. Health Net and Centene Corporation employ more than 5,700 people in California who work at one of five regional Talent Hub offices. For more information, visit www.HealthNet.com. 

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SOURCE Health Net, LLC

FAQ

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What will Health Net's $3 million San Joaquin Regional Housing Fund investment support?

The investment will provide grants and low-interest loans to support the creation of at least 75 affordable homes for Stockton families. Eligible developments will receive support from planning through construction through January 2029.